Neo Performance Materials (TSE:NEO) Hits New 12-Month High – Here’s Why

Shares of Neo Performance Materials Inc. (TSE:NEO) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$29.58 and last traded at C$29.39, with a volume of 170220 shares trading hands. The stock had previously closed at C$29.08.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. BMO Capital Markets set a C$30.00 price objective on Neo Performance Materials and gave the company an “outperform” rating in a research report on Friday, February 20th. Stifel Nicolaus upped their target price on Neo Performance Materials from C$25.50 to C$26.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$28.00.

Neo Performance Materials Stock Performance

The stock has a market cap of C$1.23 billion, a P/E ratio of -123.50 and a beta of 1.46. The business has a 50 day moving average price of C$24.28 and a 200 day moving average price of C$20.34. The company has a quick ratio of 1.92, a current ratio of 1.83 and a debt-to-equity ratio of 27.06.

Neo Performance Materials (TSE:NEO) last released its earnings results on Thursday, March 19th. The company reported C$0.01 EPS for the quarter. The firm had revenue of C$157.96 million for the quarter. Neo Performance Materials had a negative return on equity of 2.55% and a negative net margin of 2.13%. As a group, sell-side analysts expect that Neo Performance Materials Inc. will post 0.6753356 EPS for the current year.

Insider Activity at Neo Performance Materials

In other news, insider Kevin Morris sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of C$22.99, for a total transaction of C$459,800.00. Following the transaction, the insider owned 105,966 shares of the company’s stock, valued at approximately C$2,436,158.34. This represents a 15.88% decrease in their ownership of the stock. Corporate insiders own 22.38% of the company’s stock.

Neo Performance Materials Company Profile

Neo manufactures the building blocks of many modern technologies that enhance efficiency and sustainability. Neo’s advanced industrial materials – magnetic powders, rare earth magnets, magnetic assemblies, specialty chemicals, metals, and alloys – are critical to the performance of many everyday products and emerging technologies. Neo’s products fast-forward technologies for the net-zero transition. The business of Neo is organized along three segments: Magnequench, Chemicals & Oxides and Rare Metals.